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Fiscal Cliff Compromise Elusive

If GOP signs on to tax increases, Democrats would have to accept deeper spending cuts.

By Richard Rubin and Heidi Przybyla, Bloomberg | Updated on November 27, 2012

Republicans’ post-election rhetorical openness to higher taxes comes with a price that neither side of the fiscal debate in Washington may be willing to pay.

To get a deal with Democrats, Republicans would have to turn their talk of higher revenue into a vote that may split the party. And to transform Republicans’ talk into action, Democrats would need to accept deeper cuts to entitlement programs such as Medicare and Medicaid than they are willing to countenance.

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